The number of jobs liable for social insurance contributions in Hamburg increased 2.5 per cent in the first half of 2016 over the same period last year and was stronger than elsewhere in Germany, the Northern Statistical Office said Monday (September 26th) in a press release. After the previous first half of the year (Hamburg 2.0 over 1.4 per cent in the federation), marked by extraordinary effects, Hamburg had a strong increase of 1.8 per cent. The economic upward trend is continuing, according to economic authorities. The mix of economic potential with a high quality of life makes Hamburg one of Europe’s most dynamic regions.
Opportunities in Hamburg
Frank Horch, Senator for Economics, said: “Hamburg is a magnetic city for many people. People come here in the hope of a perspective and opportunities for themselves. Work is a central and key factor of success. Professionals, skilled labourers and highly-qualified experts seek out urban centres for their living environment and their future.” He added: “Hamburg has plenty to offer such as a high quality of life and diverse education opportunities.”
Ongoing growth in following sectors
Consume-orientated sectors witnessed positive growth in Hamburg. The inflation-adjusted sales in retail grew by 2.7 per cent (1.3 per cent in federation), 4.4 per cent (2.2 per cent in federation) in the hospitality industry. The number of overnight stays increased by 5.5 per cent.
Commercial construction (hours worked in companies in Hamburg: 4.2 per cent over 0.9 per cent in the federation) and manual finishing trades (nominal turnover by firms in Hamburg 8.8 per cent over 2.8 per cent in federation) profited from investments.